04:03:34 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Saputo Inc
Symbol SAP
Shares Issued 391,737,124
Close 2015-03-27 C$ 34.87
Market Cap C$ 13,659,873,514
Recent Sedar Documents

Globe says Saputo told dairy protection begins to wane

2015-03-30 09:31 ET - In the News

The Globe and Mail reports in its Monday edition a massive tariff wall keeps most dairy imports out of Canada. The Globe's Barrie McKenna writes in turn, the country is largely prohibited from selling its dairy products to the rest of the world. The cloistered nature of the Canadian system is the main reason Canadian negotiators say that dairy should be spared from the free-trade rules of the Trans-Pacific Partnership deal. However, the world is rapidly closing in on the Canadian dairy business, despite the industry's best efforts to keep it out. Senior Canadian dairy industry officials now bluntly acknowledge that the only way to save Canada's supply management system is to get into the export game, according to a report presented last week to a Dairy Farmers of Ontario (DFO) policy conference. The briefing paper lays out a stark and surprisingly unvarnished assessment of the dairy industry's prospects. A flood of imported designer dairy ingredients is rapidly displacing Canadian milk in products such as cheese and yogurt. That, in turn, is creating a growing glut of unwanted milk. Quebec's Saputo is investing massively offshore because demand is stagnant at home and exports are prohibited.

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